Selling your accounting firm is one of the biggest financial and emotional decisions you’ll make. Whether you’re retiring, merging, or moving on to a new venture, how you exit your firm matters — not just for you, but for your clients, staff, and legacy.
Unfortunately, many firm owners in Australia lose out on hard-earned value by rushing the process, relying on outdated advice, or handing over control to intermediaries with conflicting interests.
In this 2025 guide, we break down the top mistakes to avoid when selling an accounting firm, and how to protect your time, value, and reputation.
🚫 Mistake #1: Relying Solely on Brokers
While some brokers offer genuine value, many charge 10–15% of the total sale price, which can equate to tens (or hundreds) of thousands of dollars — for simply listing your firm on a few platforms.
Worse, some brokers try to suppress direct contact between buyer and seller, reducing transparency and negotiation power.
✅ Smarter 2025 Alternative: Use direct platforms like Sell My Firm that allow firm owners to connect and negotiate directly, with no middlemen or hidden fees.
🚫 Mistake #2: Not Preparing Financials or Systems
Even the most profitable firms can become unattractive to buyers if:
- There are no documented processes.
- Revenue is dependent on one partner.
- Systems are outdated or client records messy.
Buyers in 2025 want to see efficiency, automation, and client retention. Firms using cloud platforms like Xero, Karbon, FYI Docs, and BGL are commanding 20–30% higher multiples due to streamlined onboarding.
✅ Tip: Spend 2–3 months preparing your firm with standardised systems and financial reports before listing.
🚫 Mistake #3: Undervaluing Niche Strengths
Don’t assume your firm is only worth “1x revenue”. Specialised capabilities such as:
- SMSF administration
- Virtual CFO services
- Digital advisory or automation implementation
- Industry niche focus (e.g. tradies, medics, startups)
…can all justify higher valuation multiples, especially if they come with recurring contracts or loyal client bases.
✅ Action Step: Highlight and quantify these strengths during buyer discussions. Consider offering a short-term transition period to sweeten the deal.
🚫 Mistake #4: Waiting Until You’re Burnt Out
Many practice owners delay selling until they’re already overwhelmed or disengaged. This usually results in:
- Reduced client retention due to lack of attention
- Slower revenue
- Rushed or forced exit
In contrast, the most successful deals are made by firm owners who plan their exit 12–24 months in advance, allowing them to:
- Groom successors or leaders internally
- Maximise goodwill
- Choose a buyer aligned with their values
✅ 2025 Trend: More firms are merging strategically rather than exiting abruptly. Consider whether a merger could give you both time and exit flexibility.
🚫 Mistake #5: Skipping Legal & Tax Advice
Even if a deal feels “friendly,” selling a business still requires:
- Sale of Business Agreement
- Proper capital gains tax (CGT) planning
- Staff transfer or redundancy advice
- Ensuring TPB registration handover is compliant
✅ Must-Do: Work with a lawyer and tax adviser who understands practice sales in Australia — not just general commercial law.
🧠 Bonus Insight: Merging vs. Selling in 2025
In 2025, more small and mid-sized firms are choosing to merge rather than sell outright. Why?
- It offers operational support and systems without sacrificing culture.
- Allows owners to retain partial equity while gaining team and backend help.
- Buyers benefit from retained leadership, easing transition risk.
Platforms like Sell My Firm now facilitate merger matchmaking, allowing owners to explore aligned firms without commitment.
Final Thoughts
Selling your firm should never mean settling for less. By avoiding the common mistakes above and planning ahead, you can:
- Maximise the value you’ve built
- Ensure staff and clients are taken care of
- Leave on your own terms — with confidence
And remember, you don’t have to do it the old-school way.